Once you have agreed a property investment deal, it is important to fully and effectively manage the process to ensure a full completion. Working with a good team will help, but you also need to ensure that you are on top of everything. Below are the steps you should take, explained as simply as possible. Note that these steps may vary according to the type of deal you are doing (for example, if you are dealing with an auction property or buying through an estate agent)…

- Ideally you should have your decision in principle (also known as a ‘DIP’) in place prior to making your offers meaning you can book a survey on the property quickly and effectively;

- You should also know which product you want to go for and keep a close eye on the latest mortgage products (see our finance page)

- Speak to your mortgage broker about getting the survey booked and confirm with the vendor / agent;

- Instruct your solicitor and ensure that the vendor has done the same (a ‘sellers pack’ will usually need to be completed);

- Ensure your finance is in place (deposit, bridging and/or transactional costs, for example);

- Deal with any issues arising from the survey (effective due diligence or undertaking a ‘test valuation’ should mean that you can avoid problems);

- Once satisfactory survey results are through – ensure that your solicitor is notified;

- Speak to you solicitor about getting the searches undertaken against the property (The following searches will usually be carried out: Local authority, Environmental, Water/ Drainage, Chancel repair, Coal/Tin Mining, Brine/Common Registration and Clay) – although this should be done automatically;

- Use solicitors and mortgage brokers that will keep in constant touch with regards to the progress of the transaction (for example drawing down on the mortgage funds prior to exchange);

- Exchange, complete and find a tenant (ensuring you adhere to all the necessary standards and regulations).